Can Ethereum become bullish again?
Today, there was a rejection in the price around $467, the 78% retracement level, in ETH against the US Dollar. Ethereum then failed to break that resistance and declined back till $435. Despite the pump in all cryptocurrencies last night, the price is currently in a bearish zone, signaled by the light green trendline.
If there is a break above the Fib level at $467, then the price could aim to the trendline, as a next resistance. Only once it closes above it, Ethereum could become bullish again.
RSI and OBV show some bullish signals, but it is still early to confirm if the uptrend we saw in the past hours will be sustained with enough buying volume.
After that price level of $467, the next resistances that ETh may face are $500 and $530, where POC lies.
If there is a break above the Fib level at $467, then the price could aim to the trendline, as a next resistance. Only once it closes above it, Ethereum could become bullish again.
RSI and OBV show some bullish signals, but it is still early to confirm if the uptrend we saw in the past hours will be sustained with enough buying volume.
After that price level of $467, the next resistances that ETh may face are $500 and $530, where POC lies.
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